Tips on Cutting Costs at Home for a Stress-Free Financial Life

By Korir Isaac / Published December 7, 2021 | 12:29 pm




KEY POINTS

As a grown-up, covering bills is part of life, it’s very important to teach your families ways to cut costs or to save and avoid financial stress.


Cutting Costs Source: Palto / Shutterstock

When we are young, life comes easy, mother buys this, father buys that, and all we need is to ask for whatever we want. Sleeping with the lights on, watching TV all day, and playing with water directly from the tap is a fun game.

We grow up and realize how much parents sacrifice to give their families a decent life. As a grown-up, covering bills is part of life, it’s very important to teach your families ways to cut costs or to save and avoid financial stress.

Follow these simple steps and tricks that you will always be grateful for in life.

  1. Write down all your expenses

Tracking down your expenses is the first step to budgeting and saving. Do it weekly or monthly from bus fare to bill and personal shopping.

Writing down expenses will help you see where your money goes, and you will have an idea of how much you spend per week or month.

You will differentiate your needs and wants, enabling you to save more by adjusting your expenses. You can also use the information you have from the budget to lessen your monthly expenses.

  1. Walk to work

If you live close, walking to work is a great alternative to save money on commuting costs and keep you healthy. Use public means of transport if the office is too far to walk, commuting is way cheaper than driving your car.

  1. Shop at thrift stores

I know many people who would roll their eyes on this; thrift does not necessarily mean they have been won. Thrift stores receive so many different items regularly they have to price everything to sell to move inventory.

ALSO READ: Africa Needs Crucial Economic Reforms if they are to Recover Post-Covid

You will get amazing deals shopping at thrift stores. Why pay full price when you can get the same item for a lot less while thrifting? Thrift stores offer clothes, shoes, kitchen items, books, toys, electronics, niche items, and brand-new items.

  1. Carry your food to work

homemade food is much healthier, and you will save a lot on that instead of going out for lunch at restaurants.

  1. Keep loose change

keep your loose change away consistently, and make a habit of depositing every week. As they pile up, you can buy fruits, vegetables and shop for small things for the house without having to go to the bank for more money.

  1. Have a yard or garage sale for stuff that is worth money, but you don’t need

Garage and yard sales are scheduled events for the sale of used goods by private individuals. One man’s trash is indeed another man’s treasure.

Sell all the items you do not need to someone dying to have them and use the money to sort other things in your life like bills. It could also be the best way to reduce clutter in your home.

  1. Save energy

Unless your power source is biogas or solar-generated, you need to save on electricity. Monthly electricity bills are a huge part of the monthly budget.

Before purchasing any electronics, from heating, cooling, appliances, and lighting, always ensure you read and note how much power is consumed. Turn off lights when not in use and replace regular bulbs with energy-saving ones.

  1. Pay with cash only

Cash is a better alternative to credit cards; paying cash forces you to hold yourself accountable for whatever you buy any day. It shows you how quickly you empty your wallet, unlike using a card.




About Korir Isaac

A creative, tenacious, and passionate journalist with impeccable ethics and a nose for anticipated and spontaneous news. He may not say it, but he sure can make one hell of a story.

View other posts by Korir Isaac


More Articles From This Author








Trending Stories










Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE



ARCHIVES

2022
  • January 2022 (294)
  • February 2022 (329)
  • March 2022 (361)
  • April 2022 (294)
  • May 2022 (206)
  • 2021
  • January 2021 (182)
  • February 2021 (227)
  • March 2021 (325)
  • April 2021 (259)
  • May 2021 (285)
  • June 2021 (273)
  • July 2021 (277)
  • August 2021 (232)
  • September 2021 (271)
  • October 2021 (305)
  • November 2021 (364)
  • December 2021 (250)
  • 2020
  • January 2020 (272)
  • February 2020 (310)
  • March 2020 (390)
  • April 2020 (321)
  • May 2020 (335)
  • June 2020 (327)
  • July 2020 (333)
  • August 2020 (276)
  • September 2020 (214)
  • October 2020 (233)
  • November 2020 (242)
  • December 2020 (187)
  • 2019
  • January 2019 (251)
  • February 2019 (215)
  • March 2019 (283)
  • April 2019 (254)
  • May 2019 (269)
  • June 2019 (250)
  • July 2019 (337)
  • August 2019 (293)
  • September 2019 (306)
  • October 2019 (313)
  • November 2019 (362)
  • December 2019 (318)
  • 2018
  • January 2018 (291)
  • February 2018 (213)
  • March 2018 (275)
  • April 2018 (223)
  • May 2018 (235)
  • June 2018 (176)
  • July 2018 (256)
  • August 2018 (247)
  • September 2018 (255)
  • October 2018 (282)
  • November 2018 (282)
  • December 2018 (184)
  • 2017
  • January 2017 (183)
  • February 2017 (194)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (205)
  • July 2017 (190)
  • August 2017 (195)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (164)
  • February 2016 (165)
  • March 2016 (189)
  • April 2016 (143)
  • May 2016 (245)
  • June 2016 (182)
  • July 2016 (271)
  • August 2016 (247)
  • September 2016 (233)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (164)
  • April 2015 (107)
  • May 2015 (116)
  • June 2015 (119)
  • July 2015 (145)
  • August 2015 (157)
  • September 2015 (186)
  • October 2015 (169)
  • November 2015 (173)
  • December 2015 (205)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950